AgdaPkt 2009-12-14 - Laserfiche WebLink

Browse Search

6.1 B - Attachment No. 4 MANAGEMENT'S DISCUSSION AND ANALYSIS Changes in City's Net Assets(in Millions) Governmental Business-type Activities Activities Total 2009 2008 2009 2008 2009 2008 Variance Revenues $ $ $ $ $ $ Program revenues: Community development 3.966 4.787 3.966 4.787 -17.151% Human Services 0.407 0.400 0.407 0.400 1.750% Public safety 5.347 5.268 5.347 5.268 1.500% Transportation 5.385 5.933 5.385 5.933 -9.236% Environmental support and protection 1.650 1.874 1.650 1.874 -11.953% Leisure,cultural and information services 5.598 9.080 5.598 9.080 -38.348% Policy development and implementation 1.660 2.401 1.660 2.401 -30.862% Water 25.579 23.319 25.579 23.319 9.692% Sewer 20.259 16.818 20.259 16.818 20.460% p�.�g 0.840 1.098 0.840 1.098 -23.497% Port of Redwood City 6.702 5.689 6.702 5.689 17.806% General revenues: T�es/special assessments 80.960 80.102 0.028 0.027 80.988 80.129 1.072% Investment earnings 2.037 5.372 1.264 3.118 3.301 8.490 -61.119% Other 1.813 1.631 0.028 0.713 1.841 2.344 -21.459% Total revenues 108.823 116.848 54.700 50.782 163.523 167.630 -2.450% Expenses Community development 15.809 13.531 15.809 13.531 16.835% Human services 1.623 1.518 1.623 1.518 6.917% Public safety 48.501 45.451 48.501 45.451 6.711% Transportation 13.930 10.620 13.930 10.620 31.168% Environmental support and protection 2.891 2.010 2.891 2.010 43.831% Leisure,cultural and information services 23.947 20.995 23.947 20.995 14.060% Policy development and implementation 4.767 5.525 4.767 5.525 -13.719% Interest on long term debt 2.987 3.251 2.987 3.251 -8.121% Water 21.595 22.595 21.595 22.595 -4.426% Sewer 16.125 15.828 16.125 15.828 1.876% p�.�ng 2.561 2.195 2.561 2.195 16.674% Port of Redwood City 3.896 3.937 3.896 3.937 -1.041% Total expenses 114.455 102.901 44.177 44.555 158.632 147.456 7.579% Change in net assets before transfers and extraordinary item (5.632) 13.947 10.523 6.227 4.891 20.174 -75.756% Transfers (1.068) (18.065) 1.068 18.065 Extraordinary item-pollution remediation (19.797) (19.797) -100.000% Change in net assets (6.700) (4.118) (8.206) 24.292 (14.906) 20174 -173.887% Net assets-July 1 269.988 274.106 150.602 126.310 420.590 400.416 5.038% Net assets-June 30 263.288 269.988 142.396 150.602 405.684 420.590 -3.544% GOVERNMENTAL ACTIVITIES Governmental activities prior to transfers decreased the City's net assets by $5.6 million. Including transfers, governmental activities decreased $6.7 million. Transfers in FY 2008/09 consisted primarily of the $1.1 million transfer out of the general fund to the parking fund,to cover parking operations. Key elements of these changes are as follow: Key elements of the increase/decrease in revenues for governmental activities are as follows: General governmental revenues decreased about 2.6%, or $2.295 million from FY 2007/08 due primarily to decreases in investment earnings resulting from $1.6 million loss in investment with the San Mateo County 7